The supply shortage of warehousing in the West Midlands has been eased with the announcement that a new speculative development has reached practical completion.
Midlands-based construction contractor MCS Group has completed a £7.4 million contract to deliver a 122,166 sq ft warehouse in Oldbury, near West Bromwich for client Opus Land..
Keir Edmonds, Managing Director of MCS Group, said: “There is a severe shortage of high quality stock across the West Midlands. This development delivers a Grade A warehouse unit in an extremely convenient location, near junction 2 of the M5 and not far from the M6 motorway.”
Known as Xpanse120, the facility on a 6.35 acre site was forward funded by Fiera Real Estate Opportunity Fund IV UK, the fourth fund in Fiera Real Estate’s programmatic joint venture series with CBRE Global Investment Partners
The unit benefits from 10% office content at first and second floors, 125 parking spaces, lorry parking and an oversized and secure yard.
Tom Halcarz, Head of Construction Consultancy at Opus Land, said: “There is a huge requirement for industrial accommodation in the heart of the Black Country. We are offering a rare, flexible approach to occupiers seeking either freehold or leasehold options in new-build Grade A facilities.”